U.S. Legal Marijuana Market Size & Outlook, 2023-2030
U.S. legal marijuana market, 2018-2030 (US$M)
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U.S. legal marijuana market highlights
- The U.S. legal marijuana market generated a revenue of USD 13,769.5 million in 2023 and is expected to reach USD 35,719.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 14.6% from 2024 to 2030.
- In terms of segment, medical use was the largest revenue generating application in 2023.
- Adult Use is the most lucrative application segment registering the fastest growth during the forecast period.
Legal marijuana market data book summary
| Market revenue in 2023 | USD 13,769.5 million |
| Market revenue in 2030 | USD 35,719.2 million |
| Growth rate | 14.6% (CAGR from 2023 to 2030) |
| Largest segment | Medical use |
| Fastest growing segment | Adult Use |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Medical Use, Adult Use |
| Key market players worldwide | Canopy Growth Corp, Aurora Cannabis Inc, Tilray Brands Inc, MediPharm Labs Corp, The Cronos Group, Wayland Group Corp, OrganiGram Holdings Inc, Lexaria Bioscience Corp, GW Pharmaceuticals |
Other key industry trends
- In terms of revenue, U.S. accounted for 65.6% of the global legal marijuana market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. legal marijuana market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 6,584.5 million by 2030.
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Legal Marijuana Market Scope
Legal Marijuana Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. legal marijuana market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to legal marijuana market will help companies and investors design strategic landscapes.
Medical use was the largest segment with a revenue share of 76.93% in 2023. Horizon Databook has segmented the U.S. legal marijuana market based on medical use, adult use covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. accounted for the largest market share of the market in 2020 owing to its high utilization owing to government approvals. As of 2020, the use of medical marijuana is legal in 36 states and four out of five territories, and the District of Columbia, and as of April 2021, 16 states permit adults to consume cannabis for recreational use.
California was the first state that legalized the use of marijuana for medical use later, other states followed in approving the use of marijuana for medical purposes due to its high demand amongst patients. In August 2016, the U.S. Drug Enforcement Administration (DEA) decided to expand medical marijuana’s supply to research institutes.
Following this policy change, an individual with a research protocol approved by the Department of Health and Human Services can obtain federal authorization to grow marijuana for research purposes. This move is likely to accelerate the development of treatments derived from the medical marijuana. All these factors are expected to boost the U.S. medical marijuana market over the coming years.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. legal marijuana market , including forecasts for subscribers. This country databook contains high-level insights into U.S. legal marijuana market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. legal marijuana market size, by application, 2018-2030 (US$M)
U.S. Legal Marijuana Market Outlook Share, 2023 & 2030 (US$M)
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